Do Differently

Quick Summary: Carefully and regularly review errors and traps you and others have made to avoid them.

Abstract:

All of us have regrets about some of the things that we have done or failed to do in the past. They occur in our personal as well as our professional lives. The very nature of being an entrepreneur or CEO of a startup means that there will be many uncharted waters that need to be traversed. Learning from your past mistakes and those of others is key to survival.

We have all heard the proverb that “hindsight is 20/20” and the quote: “Those who do not learn from history are doomed to repeat it.” (George Santayana). Additionally, all of us have said: “If I could have done it differently, I would have…”. And finally, “I wish I had known that…”. For entrepreneurs, it would not be surprising if these statements are weekly occurrences. I know because it has happened to me and still happens – far too often. In preparing this article, I quickly reviewed my email contact lists and LinkedIn contacts. I identified 170 entrepreneurs or startup companies that I have worked with over the past several years. Through September 2018, I have been involved with 62 different entrepreneurs or startups to one degree or another. I thought back to my discussions with each of these entities and developed the list below. Each of the 54 statements reflects what “they should have done” for their business or idea. The “they should” could be “I should” or “We should”. It doesn’t matter if the issue was personal or group-based. In the end, the entrepreneur or CEO is responsible whether it was their error or that of their collective staffs.

When I work with companies, I often say, “I want to help you make new mistakes and not repeat the many mistakes that I have made or seen over my career.” Many think I am kidding; I am not. Of the list of 54 items below, I have made at least twenty-one of them! To protect my ego, I won’t identify which were mine and which were others. In only a few cases were the items listed singular events involving one company. Unfortunately, I believe this is a fairly common list.

Think of each item in this list as a road hazard sign, warning of what may be ahead. Only the issue and not the solution is provided. Most of the items are discussed in other articles in this collection. Searching the www.CxO-Atlas.com website by article title or keyword should lead to the appropriates articles. The list is divided into eight sections. Many of the items could have been listed in other sections, so it is best to review all the items. As one sentence summaries, some of the items may not be clear.

Perhaps the best use of this list is to review it weekly and candidly review the past week’s activities to determine if any of the items apply and, if so, what quick corrective action can and should be taken. Unfortunately, as time goes on, I am afraid that I will be adding to the list based on what I do and what I see others doing!